The Washington Post Reports Hundreds of Thousands of Dollars in Fraud, Real-Time Attacks Against Online Banking are to Blame

Posted  September 11, 2009 By Sarah

The Washington Post reports yet another incident of a real-time attack targeting business online banking. This one resulted in the fraudulent transfer of $447,000 from Ferma Corp. in Santa Maria, CA.

This follows on the heels of an earlier Washington Post article reporting similar incidents of fraud at:

• Bullitt County in KY – $415,000
• Western Beaver School District in PA- $700,000
• Slack Auto Parts in GA – $75,000

The impacts of these attacks is really adding up. Out-of-band authentication is becoming so critical.

Sarah